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Consolidated Financial Statements and Consolidated Criteria CaixaHolding, S.A.U. and Subsidiaries Consolidated financial statements and consolidated directors' report for the year ended 31 December 2013 (prepared in accordance with International Financial Reporting Standards) Translation of consolidated financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Group (see Notes 2 and 27). In the event of a discrepancy, the Spanish-language version prevails. * * * * * - 2 - CONTENTS Consolidated balance sheets .................................................................................................. 3 Consolidated income statements ............................................................................................. 5 Consolidated statements of comprehensive income ...................................................................... 6 Consolidated statements of changes in equity ............................................................................. 7 Consolidated statements of cash flows ...................................................................................... 8 Notes to the financial statements 1. Group activities and general information ........................................................................... 9 2. Basis of presentation and basis of consolidation .................................................................. 10 3. Accounting policies .................................................................................................... 24 4. Goodwill and other intangible assets .............................................................................. 38 5. Property, plant and equipment ...................................................................................... 40 6. Investment property .................................................................................................. 42 7. Investments accounted for using the equity method ............................................................ 43 8. Financial assets ........................................................................................................ 49 9. Inventories ............................................................................................................. 52 10. Non-current assets classified as held for sale ..................................................................... 53 11. Cash and cash equivalents ........................................................................................... 55 12. Equity ................................................................................................................... 55 13. Long-term provisions ................................................................................................. 59 14. Financial liabilities at amortised cost ............................................................................... 60 15. Other non-current liabilities ......................................................................................... 63 16. Tax matters and income tax ......................................................................................... 65 17. Income and expenses ................................................................................................. 68 18. Notes to the consolidated statements of cash flows ............................................................. 73 19. Fair value ............................................................................................................... 74 20. Risk management policy .............................................................................................. 75 21. Contingencies and obligations ....................................................................................... 79 22. Segment reporting .................................................................................................... 79 23. Related party disclosures ............................................................................................. 81 24. Other salient information ............................................................................................ 90 25. Information on the environment and corporate responsibility ................................................. 91 26. Events after the reporting period ................................................................................... 91 27. Explanation added for translation to English .............................................................................................. 92 APPENDIX I Investments in Group companies ............................................................................. 93 APPENDIX II Investments in jointly controlled entities and associates ................................................. 94 APPENDIX III Available-for-sale financial assets - Equity instruments .................................................. 95 Consolidated directors' report - 3 - Translation of consolidated financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Group (see Notes 2 and 27). In the event of a discrepancy, the Spanish-language version prevails. CRITERIA CAIXAHOLDING, S.A.U. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS AT 31 DECEMBER 2013 AND 2012 (notes 1 to 3) Thousands of euros ASSETS Notes 2013 2012(*) NON-CURRENT ASSETS Goodwill and other intangible assets (Note 4) 746,916 802,775 Property, plant and equipment (Note 5) 116,214 151,711 Investment property (Note 6) 1,170,945 1,131,077 Investments accounted for using the equity method (Note 7) 7,278,655 7,487,244 Financial assets (Note 8) 41,986 154,908 Available-for-sale financial assets 15,084 33,912 Loans, receivables and other financial assets 26,902 120,996 Deferred tax assets (Note 16) 1,063,533 1,081,324 Total non-current assets 10,418,249 10,809,039 CURRENT ASSETS Non-current assets classified as held for sale (Note 10) 1,243,924 1,290,733 Inventories (Note 9) 798,372 1,145,228 Current financial assets (Note 8) 104,581 184,402 Other current assets 153,001 160,142 Tax assets (Note 16) 17,239 23,291 Dividends receivable 135,762 136,773 Other current assets - 78 Cash and cash equivalents (Note 11) 372,941 283,473 Total current assets 2,672,819 3,063,978 TOTAL ASSETS 13,091,068 13,873,017 The accompanying Notes 1 to 27 and the Appendices are an integral part of the consolidated balance sheet at 31 December 2013. (*) The figures at 31 December 2012 are presented for comparison purposes only. - 4 - Translation of consolidated financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Group (see Notes 2 and 27). In the event of a discrepancy, the Spanish-language version prevails. CRITERIA CAIXAHOLDING, S.A.U. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS AT 31 DECEMBER 2013 AND 2012 (notes 1 to 3) Thousands of euros EQUITY AND LIABILITIES Notes 2013 2012(*) EQUITY: Share capital, reserves and profit (Note 12) 8,944,345 9,189,854 Share capital 1,381,520 3,225,000 Share premium - 5,463,285 Reserves 7,172,121 444,623 Profit attributable to the Group 471,704 56,946 Interim dividend paid (81,000) - Valuation adjustments (Note 12) (128,106) (44,610) Non-controlling interests (Note 12) 375,465 383,355 Total equity 9,191,704 9,528,599 NON-CURRENT LIABILITIES: Long-term provisions (Note 13) 172,988 192,044 Non-current payables (Note 14) 3,066,178 2,124,348 Deferred tax liabilities (Note 16) 346,540 362,947 Other non-current liabilities 28,868 124,715 Derivatives (Note 15.1) 13,734 23,624 Other non-current liabilities (Note 15.2) 15,134 101,091 Total non-current liabilities 3,614,574 2,804,054 CURRENT LIABILITIES: Financial liabilities at amortised cost (Note 14) 251,701 1,409,484 Bank borrowings 75,082 1,375,690 Other financial liabilities 176,619 33,794 Derivative financial instruments (Note 15.1) 48 383 Tax liabilities (Note 16) 8,906 109,210 Deferred income 17,097 14,582 Other current liabilities 7,038 6,705 Total current liabilities 284,790 1,540,364 TOTAL EQUITY AND LIABILITIES 13,091,068 13,873,017 The accompanying Notes 1 to 27 and the Appendices are an integral part of the consolidated balance sheet at 31 December 2013. (*) The figures at 31 December 2012 are presented for comparison purposes only. - 5 - Translation of consolidated financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Group (see Notes 2 and 27). In the event of a discrepancy, the Spanish-language version prevails. CRITERIA CAIXAHOLDING, S.A.U. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS FOR THE YEARS ENDED 31 DECEMBER 2013 AND 2012 (notes 1 to 3) Thousands of euros Notes 2013 2012(*) CONTINUING OPERATIONS Revenue (Note 17.1) 349,415 283,742 Result of companies accounted for using the equity method (Note 7) 680,502 819,854 Net gains on financial transactions (Note 17.2) 3,559 - Net gains on transactions with Group companies, jointly controlled entities and associates (Note 17.3) 204,891 92,974 Staff costs (Note 17.4) (74,767) (73,091) Depreciation and amortisation charge (Note 17.5) (73,065) (68,718) Net impairment losses (Note 17.6) (300,686) (834,592) Other operating expenses (Note 17.7) (168,109) (141,955) Net provisions recognised (Note 13) 205 - Other gains (Note 17.8) 49,660 52,472 Other losses (Note 17.8) (70,125) (181,652) PROFIT (LOSS) FROM OPERATIONS 601,480 (50,966) Finance income 11,871 14,084 Finance
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